Finances for families

A new baby can have a huge impact on your finances. It can mean there is less money to spend as the household income drops and costs go up. There’s a range options available if you need financial assistance, particularly for middle income families.

Paid parental leave

Paid parental leave is paid leave for working and self-employed parents who take leave from their jobs to care for a newborn baby.

Working for Families

Working for Families helps low and middle income families with children under 18 years of age. Working for Families provides extra money through tax credits. It also provides help with housing and childcare costs. The amount available to you through Working for Families depends on your family’s income.

Family Tax Credits

Family Tax Credits are part of Working for Families. They are made up of four types of payment:

family tax credit

in-work tax credit

minimum family tax credit

parental tax credit.

You may qualify for one or more, depending on your personal circumstances. Phone 0800 227 773 or see their website.

Childcare subsidy

The childcare subsidy helps with the cost of pre-school and out-of-school care. Eligibility and amount depends on your income and how many hours your child is in care.

Child support

Child support is money paid by your child’s other parent if that parent isn’t living with you and the child.

Other benefits

Other government benefits may be available for low and middle income families. These include help with housing costs, and help with disability costs.

For more information about other benefits that you may be entitled to, please contact Work and Income on 0800 559 009 or visit their website.

The baby budget calculator

Our principal sponsor BNZ has created the BNZ baby budget calculator. To help you plan financially this calculator gives you an idea of how much having a baby can cost. Planning and being good with money is going to make things easier for when your newest family member arrives.